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Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS


Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recovery in 2011.

"The sharp decline in demand, coupled with numerous newly built vessels, should heavily imbalance the market over the next two years," analyst Robert MacKenzie wrote in a research note to clients.

"We are forecasting sizeable 10 percent and 20 percent excess capacity in the dry-bulk and container markets, respectively, for both 2009 and 2010, which coupled with limited bank financing should continue to depress asset prices," he added.

However, MacKenzie believes that the lack of available financing should lead to heavy order-book cancellations and construction delays that he expects to ultimately balance the dry-bulk and container markets by 2012. To read more
Reuters      



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Recent News

Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...


Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam  will be completed in April 2011. T ...


Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...


Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...


Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...


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